Get RealPage Real Estate Development Accounting Solutions With REA
RealPage is built to report stabilized rental income month over month, not to track a single project moving through predevelopment, construction, and lease-up against its own capital budget. A development entity set up the same way as an operating property lets construction spend default into operating accounts, and the portfolio roll-up will still look clean while it happens.
Developers Accounting Inside RealPage
What Changes When You Run This Vertical On This Platform
Where it breaks
Construction draws and costs default to operating accounts
RealPage's property setup and chart of accounts are built for stabilized rental operations: rent roll, operating income, operating expense. A development entity coded the same way lets soft costs, capitalized interest, and construction draws post to whichever operating account resembles the vendor category, not to work in progress. Draws hit the ledger as income instead of a loan advance. Retainage gets held on the balance sheet but never accrued as a liability. None of this breaks the portfolio roll-up, which still totals and closes on schedule, so it goes unnoticed until the project is placed in service, when the capitalized basis is wrong and has to be rebuilt.
How REA handles it
We build a job-cost structure inside the property ledger
REA sets up each development entity in RealPage with a job-cost structure layered onto the standard chart of accounts: capitalizable soft costs, carrying interest, and taxes route to work-in-progress balance sheet accounts instead of the operating P&L RealPage defaults to. Draws post as loan advances against the construction liability, not income. Retainage is accrued as a payable the moment it is held, not when it is released. REA reconciles the property-level ledger to the draw schedule and budget every draw cycle, not just at the portfolio roll-up, so a clean roll-up never hides a miscoded property underneath it.
What we check in your RealPage instance
- Soft costs coded to WIP, not opex
- Capitalized interest excluded from the operating P&L
- Draws booked as loan advances, not income
- Retainage accrued as a payable when held
- Draw schedule reconciled to budget each cycle
- Property ledger checked before the portfolio roll-up
The Full Scope of the Engagement
Two Pages Carry the Detail
This page covers what is specific to running Developers books in RealPage. The complete service scope, process, and pricing conversation live on the two pages below.
The vertical
Developers Accounting
Full scope, monthly process, property types, FAQs and the team on the account.
See the Developers pageThe platform
RealPage Bookkeeping
What RealPage does well, where its accounting breaks, and how REA works inside your own instance.
See the RealPage page- 01
Trust Accounting
Tenant, owner, and security deposit money kept separate, tied out, and ready for a state audit at any time.
- 02
Bank Reconciliation Services
Every operating, trust, and escrow account reconciled on a fixed schedule, with the variances chased down rather than carried forward.
- 03
Accounts Payable & Receivable
Vendor invoices coded and paid, tenant receipts applied, management fees taken, and owner distributions cut on time.
- 04
Bookkeeping Cleanup & Catch-Up
Months or years of unreconciled books diagnosed, corrected, and brought current so the numbers you report are numbers you trust.
- 05
CAM Reconciliation
Common area maintenance pools built from the lease terms, reconciled against actuals, and billed or credited with a defensible tenant statement.
Experts In All Property Types
Residential, commercial and everything in between. The asset class changes what the books have to prove, and our teams are staffed accordingly.
- Single-Family
- Multifamily
- Student Housing
- Affordable Housing
- Community AssociationsSee the page
- CommercialSee the page
Check Out What Our Clients Have To Say About Us
Property Managers, Investors & Owner Operators
Real-estate-only specialists
As REA exclusively specializes in Real Estate, I rest easy knowing my financials are precise every month while saving money at the same time, an invaluable benefit.
Handed over the whole accounting function
I highly recommend Real Estate Accounting (REA) services from this group. They truly are great and have helped us tremendously at a time we needed it the most. I felt very comfortable giving up all my accounting responsibilities to this team and I'm still glad I made the decision to work with this group. Nothing less than an amazing experience!
Day-to-day financial operations
REA and team have been nothing but excellent helping our firm with its day to day financial needs. Their expertise, professionalism, and timeliness have made our lives so much easier. We foresee a long relationship with REA and team.
230+
Property Accountants
30M+
Commercial Sq. Ft.
Up to 50%
Saved vs In-House
Every month
On-Time Close
Running Developers On Something Else?
Same Vertical, Different Platform
Frequently Asked Questions
We already use RealPage for our operating properties. Can we track a development project in the same system?
Yes, but it needs its own setup, not the standard operating template. A development entity in RealPage should carry a job-cost structure so soft costs, interest, and draws route to capital accounts instead of the operating income and expense accounts RealPage defaults to. Set up like a stabilized property, the numbers will still tie out monthly, they will just be tying out in the wrong accounts.
Our portfolio roll-up closes clean every month. Why would we need someone checking the property-level detail underneath it?
Because RealPage rolls up whatever is posted underneath, correct or not. A roll-up can total cleanly while draws sit in income, capitalized interest hits the P&L, or retainage goes unaccrued. None of that creates a visible problem until the project is placed in service and the capitalized basis has to support a cost segregation study, a lender audit, or a tax return. REA checks the property ledger every cycle, not just the roll-up.
How do you handle capitalized interest and carrying costs during construction inside RealPage?
We set up a dedicated work-in-progress account structure at the property level and route carrying interest, taxes, and capitalizable soft costs there instead of letting them default into RealPage's standard operating expense accounts. Each draw is checked against the budget and the capitalization policy before it posts, so the decision to capitalize or expense is made consistently across the project instead of differently depending on who codes that vendor invoice.
Ready for Accurate Developers Books in RealPage?
Schedule a call with our team to talk through your RealPage instance, what it is doing to your developers financials, and what REA would take on.